Amara Omeokwe

speaker

439 appearances 11 recordings 1 series first heard Mar 2020 last heard Dec 2023

Amara Omeokwe’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · In the 'Great Resignation,' Older Workers Lead the Way · 5 Nov 2021 podcast

two jobs in his field, and he couldn't land one.

And he said one thing that he really sensed in his interviews and in his interactions with potential employers was that they just weren't really interested in hiring someone of his age.

And researchers at the New School, which is a private university in New York, talk a lot about how

Age discrimination can sometimes play a factor, particularly in some of these industries that have a lot of job openings right now.

For instance, the hospitality industry or the restaurant industry.

Those are industries that in a lot of ways are physically demanding.

And one researcher I talked to said employers in those industries may assume that older workers would not be good at that physically demanding work.

And so they choose not to hire them.

Well, some more affluent older Americans really saw the value of their retirement portfolios and their investment portfolios do quite well during the pandemic.

You may remember that at the beginning of the pandemic, we saw the stock market sharply decline, but then it went on to actually have a really good year in 2020.

So that, of course, boosted retirement portfolios for people who have them.

And I talked to one man for the story who he saw his portfolio do quite well during the pandemic.

That wasn't the main driver of his decision to retire, but it certainly made him feel more comfortable doing so.

Well, the researcher from the Retirement Equity Lab that I spoke with said, you know, one thing that this trend could mean is that those workers are now in a more financially vulnerable position.

So what he said is we assume that workers with lower incomes, lower education have less of a buffer for retirement.

And so if they were forced to sort of retire early or retire in an unplanned way, they can now be facing more financial stresses from that happening.

Well, it is putting employers in a tight spot.

And one way we've seen them respond is sort of raise wages to try and attract workers to try and get and to try to be more competitive and have a competitive advantage in this fierce competition they're all engaging in for workers.

At the same time, though, we've seen accelerating inflation.

We've seen higher prices for many of the everyday items that Americans are buying.

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